MIDEAST STOCKS-Most major Gulf stocks decline, but banks boost Saudi

* Top lender FAB weighs on Abu Dhabi
* All Saudi Arabian banks gain but one
* Saudi, Egypt reduce trading hours temporarily
By Ateeq Shariff
March 26 (Reuters) - Most major Gulf shares lost steam on
Thursday, ending a two-day rally triggered by the giant $2
trillion stimulus package in the United States to mitigate the
economic blow from the fast-spreading coronavirus pandemic.
In Abu Dhabi, the index sank 3.8%, with the country's
largest lender First Abu Dhabi Bank (FAB) and telecoms
firm Etisalat dropping 5% and 4.9%, respectively.
Dubai's main share index slipped 0.8%. The United
Arab Emirates' (UAE) largest sharia-compliant lender Dubai
Islamic Bank fell 3.1%, while Emaar Malls
was down 3.6%.
The UAE will halt all public transport and restrict people's
movements in the evening for a weekend nationwide disinfection
campaign starting Thursday to curb the spread of the new
coronavirus.
The Qatari index lost 0.7%, as Qatar National Bank
declined 3.5% and Qatar Islamic Bank eased
1.4%.
The Gulf state temporarily closed all in-person money
exchange and transfer services from March 26 to limit the spread
of the coronavirus, its state news agency said on Wednesday.
The six-nation Gulf Cooperation Council has recorded nearly
2,500 coronavirus cases, with eight deaths. Saudi Arabia has the
highest tally of infections at 900.
Saudi Arabia's benchmark index, however, advanced
1.9%, extending gains for a third session, led by banking
shares. Al Rajhi Bank increased 1.7%, while National
Commercial Bank was up 2.7%.
The kingdom, which reduced trading hours temporarily for all
listed securities, reported its second coronavirus death and
tightened a nationwide curfew on Wednesday.
Egypt's blue-chip index edged up 0.5%. El Sewedy
Electric increased 2.5% and Cleopatra Hospital
ended 3.1% higher.
Egypt, which has declared a curfew from 7 p.m. to 6 a.m. for
two weeks from Wednesday to prevent the spread of coronavirus,
also reduced its trading hours for the same period.
SAUDI ARABIA rose 1.9% to 6,327 points
ABU DHABI slid 3.8% to 3,771 points
DUBAI lost 0.8% to 1,809 points
QATAR down 0.7% to 8,479 points
EGYPT was up 0.5% to 9,913 points
BAHRAIN added 0.3% to 1,389 points
OMAN slipped 0.5% to 3,539 points
KUWAIT declined 1.1% to 5,281 points
(Reporting by Ateeq Shariff in Bengaluru; Editing by Mark
Potter)